Share-Based Compensation

9 Months Ended

Sep. 23, 2020

Share-based Payment Arrangement [Abstract]

Total share-based compensation included as a component of general and administrative expenses was as follows:


	Quarter Ended						Three Quarters Ended
	September 23, 2020		September 25, 2019		September 23, 2020		September 25, 2019
	(In thousands)
Employee share awards	$	1,784	$	1,957	$	1,364	$	6,418
Restricted stock units for board members	214		219		608		724
Total share-based compensation	$	1,998	$	2,176	$	1,972	$	7,142

Employee Share Awards

Employee share awards consist of performance share units and restricted stock units (which are equity classified). During the three quarters ended September 23, 2020, as a component of our annual compensation program, we granted certain employees approximately 0.8 million restricted stock units with a grant date fair value of $10.46 per share that vest over a two-year period, as defined under the terms of the award. The vesting period for these restricted stock units is the two-year period beginning May 20, 2020 through May 20, 2022.

During the three quarters ended September 23, 2020, we issued 0.3 million shares of common stock related to vested performance share units. In addition, 0.2 million shares of common stock were withheld in lieu of taxes related to vested performance share units.

As of September 23, 2020, we had approximately $9.8 million of unrecognized compensation cost related to unvested performance share awards and restricted share awards outstanding, which have a weighted average remaining contractual term of 1.5 years.

Subsequent to the end of the quarter ended September 23, 2020, certain employee share awards were modified. See Note 16.

Restricted Stock Units for Board Members

During the three quarters ended September 23, 2020, we granted less than 0.1 million restricted stock units (which are equity classified) with a weighted average grant date fair value of $10.46 per unit to non-employee members of our Board of Directors. The restricted stock units vest after a one year service period. A director may elect to convert these awards into shares of common stock either on a specific date in the future (while still serving as a member of our Board of Directors), upon termination as a member of our Board of Directors, or in three equal annual installments commencing after termination of service as a member of our Board.

During the three quarters ended September 23, 2020, less than 0.1 million restricted stock units were converted into shares of common stock.

As of September 23, 2020, we had approximately $0.6 million of unrecognized compensation cost related to all unvested restricted stock unit awards outstanding, which have a weighted average remaining contractual term of 0.7 years.